• in 2016 the average economic standard of living of Jersey residents, measured as real-term Gross Value Added (GVA) per head of population:
• declined marginally in 2016 due to the increase in total economic output (GVA) being lower than the increase in the resident population
• has been essentially flat during the latest three-year period (2014-2016)
• has decreased by more than a sixth (18%) since 2007
• GVA per head of population in Jersey in 2016 was £40,200 (current year values) and was 53% greater than in the UK

• on an annual basis Jersey’s economy, as measured by total GVA, grew by 1% in real terms in 2016
• total GVA in 2016 was £4.19 billion (current year values)
• 2016 represents the third consecutive year that the Island’s economy has grown in real terms
• the rental income of private households (both actual and imputed) was the largest contributor to the real-term growth of total GVA in 2016, resulting from an increase in the number of resident households combined with higher rents paid on an annual basis
• several of the non-finance sectors of the economy recorded real-term growth in GVA in 2016, notably the private sector service industries and the construction sector
• in contrast, the financial services and wholesale & retail sectors saw GVA decline on an annual basis, whilst public administration recorded the largest percentage decline in GVA, down by 4% in real terms

• GDP grew by almost 1% in real terms in 2016GDP 
• in 2016 was £4.11 billion (current year values)
  

Labour productivity

• productivity, as measured by GVA per full-time equivalent worker, declined by 2% in 2016
  
• the non-finance sectors, overall, saw productivity remain essentially unchanged in 2016 (up by 0.2% an annual basis); in contrast, the financial services sector saw productivity decrease by 3%
  
• over all sectors of the economy, productivity has fallen by more than a fifth (22%) in real terms since 2007, driven by a decline in the productivity of the Island’s finance sector of almost a third (32%)
  
• productivity in the non-finance sectors, overall, has declined by 5% since 2007 but has remained relatively flat over the longer term; in 2016 it was 3% higher than 18 years earlier, in 1998